Clene’s (CLNN) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of Clene (NASDAQ:CLNN) in a research report report published on Wednesday morning,Benzinga reports. D. Boral Capital currently has a $23.00 price target on the stock.

Several other analysts also recently issued reports on CLNN. Canaccord Genuity Group decreased their price objective on shares of Clene from $83.00 to $48.00 and set a “buy” rating for the company in a report on Monday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research report on Tuesday, October 14th. Benchmark lowered their price target on Clene from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Wall Street Zen lowered Clene from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Finally, UBS Group reissued a “buy” rating on shares of Clene in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Clene has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Clene Stock Performance

Shares of NASDAQ CLNN opened at $5.77 on Wednesday. The firm has a market cap of $59.60 million, a price-to-earnings ratio of -1.70 and a beta of 0.79. The business’s 50-day simple moving average is $8.92 and its 200-day simple moving average is $5.96. Clene has a 52 week low of $2.28 and a 52 week high of $13.50.

Clene (NASDAQ:CLNN) last posted its earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.06 million. As a group, equities research analysts forecast that Clene will post -5.19 earnings per share for the current year.

Institutional Investors Weigh In On Clene

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lunt Capital Management Inc. lifted its position in shares of Clene by 2.5% during the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after buying an additional 1,250 shares during the period. Jones Financial Companies Lllp acquired a new position in Clene in the third quarter valued at about $29,000. Jane Street Group LLC acquired a new position in Clene in the second quarter valued at about $47,000. Finally, Scoggin Management LP grew its stake in Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after buying an additional 42,750 shares during the last quarter. Institutional investors own 23.28% of the company’s stock.

Clene Company Profile

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.